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Verbier closed to foreign property buyers for a year.
 Poster: A snowHead
Poster: A snowHead

Verbier
An embargo has been placed on foreigners wishing to buy holiday homes in Verbier, Switzerland in an effort to reduce waiting lists. The decision was made by the Government of the Southern Canton of Valais but has infuriated local officials who believe it will result in buyers going elsewhere...

Federal law dictates that the number of holiday homes sold to foreigners is strictly limited, each canton having its own annual quota. For Valais this is fixed at 310 units. However, demand is currently far in excess of this so the number of deals awaiting registration in Valais has grown from 200 to almost 1,000 in just two years.
http://www.swissinfo.org/eng/front/detail/Foreigners_banned_from_buying_homes_in_Verbier.html?siteSect=105&sid=7370493&cKey=1166793778000
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 Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person

Wonder if this will affect Intrawest's plans to build their next Euro "resort" there?
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snow report
 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?

Oh booger - I was just planning on purchasing a pad there as well.
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snow report
 You need to Login to know who's really who.
You need to Login to know who's really who.

kerekip, Further to this the backlog for permits-to-own has increased to over three years which the authorities have deemed as too risky for vendors and purchasers - failure to close due to factors outside all parties' control.

There are ways around it involving holding companies. Prices are going to inflate as a result of the moratorium and therefore anyone in the process of purchasing or still intent on purchasing should do so now rather than be fobbed off by the restriction. It is in no way certain that the ban will only last a year. My (reliable) sources think it may extend to as much as 3-5 years...

Any queries get in touch....
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ski holidays
 Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.

http://uk.news.yahoo.com/17012007/344/star-blunt-moving-swiss-resort.html
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